The fact that you can now transfer thousands of dollars from one country or another for near zero fees should be enough to show you the inefficiency of institutions like Western Union.

A thousand dollars cross country would cost at least $50 through things like Western Union which we all too as a standard back in the day but now seems outrageous with projects like e-Money or Tron pressing near zero fees for such large sums of money transfers.The only reason Western Union isn’t tumbling right now is because crypto is still new to most of the populous and the fact that some countries don’t have internet access to begin with.But for the most part, once crypto start gaining more and more mainstream traction, companies and financial institutions the likes of Western Union and MoneyGram will start to falter and wi only be used by severely underdeveloped countries with no internet access.

Submitted February 28, 2022 at 04:39AM